Hopkins to step down as APN chief executive

Brendan Hopkins. Photo / Glen Jeffrey

APN News & Media chief executive Brendan Hopkins is stepping down at the end of the year.

Hopkins has led the Australasian media company - which publishes the Herald - for eight years.

Although he still had more than a year left in his contract Hopkins said the time was right for a change, with the company bouncing back well from the recession. It was too early to say what his next move would be. The focus for the next five months would be on managing a smooth transition.

The APN board has appointed recruitment firm Heidrick & Struggles to search for a replacement.

Changes in the ownership structure and board of the major APN shareholder, Irish based Independent News & Media (INM), had not been a factor in the decision, Hopkins said.

"This is a personal decision. We had a tough year in 2009. In 2010 - as we said at the AGM - the business is bouncing back and we are leaving the company in good shape. It's the right time for a new CEO to come to the helm and take the company onwards and upwards."

Hopkins said he was proud of the developments he had overseen at APN since 2002.

Highlights included the expansion of nzherald.co.nz, the launch of the Herald on Sunday and online retailer sella.co.nz.

APN had acted prudently in the lead up to the global financial crisis and had weathered the downturn well.

"The board has always encouraged management to look before we leap and that's stood us in very good stead."

In a statement to the Australian Stock Exchange yesterday, Gavin O'Reilly, chairman of APN, said: "Brendan has led the company with energy and skill over the past eight years and we thank him for his contribution to APN's affairs.

"We wish Brendan well for the future."